4. Reinvestment Scorecard

To assess how extractive companies reinvest resource rents into new capital, we introduce a Reinvestment Scorecard that evaluates firms across multiple dimensions. The scorecard provides a qualitative rating—Low (L), Medium (M), Medium/Low (M/L), High (H) or Unknown (UK)—for each criterion. A high score indicates that the company is allocating a significant portion of its earnings toward replacing and expanding its asset base, while a low score suggests the company may be consuming its natural capital and risking unsustainable operations.

The table below summarises the scorecard results for three representative companies—Freeport‑McMoRan, Anglo American and Ørsted. The categories include a sustainable capital expenditure (CapEx) ratio, reserve replacement rate, financial reinvestment rate, carbon transition progress and social & human investment. Hover over any rating to see a short description and use the dropdown arrows to filter or sort the table.